Taxmann’s Financial Accounting [UGCF | NEP] – Two-Volume Textbook for B.Com./B.Com. (Hons.) Students

Description

Financial Accounting is a comprehensive, authentic two-volume textbook that brings the theory, procedure, and practice of accounting together in a single, integrated treatment. It is written for undergraduate commerce students and is fully aligned with the Undergraduate Curriculum Framework (UGCF) prescribed under the National Education Policy (NEP), making it suitable for B.Com. and B.Com. (Hons.) programmes at universities throughout India.

The book is deliberately student-oriented. Concepts are explained in simple language and developed in a systematic, building-block sequence, with particular care taken over the points students typically find difficult. Theory is anchored throughout to an extensive body of solved illustrations with working notes, and the major standards-based topics are presented under the relevant Accounting Standard (AS) and, where applicable, set against their Ind AS counterparts—so that students see the current Indian position alongside its IFRS-converged form.

The work is delivered across two complementary volumes—Volume I (Text & Illustrations) carrying the conceptual and worked-example content, and Volume II (Assignments) carrying the practice apparatus of objective questions, practical problems, and previous-year question papers—keeping study and self-assessment structurally distinct yet fully coordinated.

This book is intended for the following audience:

• Undergraduate Commerce Students Pursuing B.Com. and B.Com. (Hons.) under the NEP/UGCF framework at universities across India
• Candidates of Other Undergraduate and Postgraduate Programmes in which financial accounting is a core paper
• Students of Management Courses requiring a rigorous grounding in financial accounting theory and practice
• Aspirants to Professional Accountancy Qualifications who need a standards-aligned, first-principles foundation in financial accounting
• Students of the School of Open Learning (SOL) and the Non-Collegiate Women’s Education Board (NCWEB), University of Delhi

The Present Publication is the 14th Edition, authored by Bhushan Kumar Goyal and Dr H.N. Tiwari, and includes several noteworthy features:

• [Solved Illustrations with Working Notes] A large number of fully solved illustrations, each supported by detailed working notes, so that students can follow the complete reasoning behind every solution
• [Graded Problem Progression] Graded illustrations that progress from the elementary to the advanced, allowing students to build competence before attempting examination-standard problems
• [AS-versus-Ind AS Comparisons] Dedicated AS-versus-Ind AS comparisons at the relevant topics—AS 4 with Ind AS 10; AS 5 with Ind AS 8; AS 29 with Ind AS 37; AS 26 with Ind AS 38; AS 2 with Ind AS 2; and AS 19 with Ind AS 17—with Ind AS 115 (Revenue from Contracts with Customers) additionally introduced by way of an overview
• [Standards-Compliant Treatment] Accounting treatment given throughout in conformity with the Accounting Standards and the relevant statutes
• [Accounting for GST] Detailed, worked coverage of accounting for Goods and Services Tax (GST), including its integration into the final accounts
• [Latest Examination Questions] Most of the questions set in the December 2025 examination of the University of Delhi are reproduced and solved as illustrations, in addition to fresh illustrations added in this edition
• [Student-Friendly Exposition] Simple language and a systematic, step-by-step build-up, with special emphasis on the points students generally find difficult
• [Dedicated Assignment Volume] A dedicated assignment volume (Volume II) carrying True/False questions with reasoned answers, practical questions, and previous-year question papers for structured self-assessment
• [Revised for the UGCF/NEP Syllabus] Thoroughly revised for this Edition in line with the UGCF syllabus under NEP, incorporating valuable suggestions received from the faculty of the University of Delhi